Nasdaq: Weibo Will Start Trading ‘Shortly’

Nasdaq is saying Weibo Corp. “is anticipated to open for trading shortly.”

In a “market system status message” at 11:50 a.m., Nasdaq said Weibo ”remains in Pre-Launch status pending additional price discovery” and reassured traders that “all NASDAQ systems are fully operational.”

The Beijing-based microblogging service priced its initial public offering at $17 per share last night. Late Wednesday, Weibo opted to sell 16.8 million shares in the deal, 16% fewer than planned, as the deal priced at the low end of its $17-to-$19 marketed range.